Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $4.87, but opened at $5.3150. Salzgitter shares last traded at $5.3150, with a volume of 1,084 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SZGPY shares. Zacks Research upgraded Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The stock’s 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $5.92. The firm has a market cap of $2.87 billion, a P/E ratio of 44.29 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. Equities research analysts anticipate that Salzgitter AG will post 0.22 earnings per share for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.